Overview of Managerial Accounting

Overview/Description
 Managerial accounting is an activity that provides financial and nonfinancial information to business managers and other internal decision makers of an organization. This course examines how managerial accounting information is gathered, and how it is used by business professionals to make effective decisions. Lessons such as fundamentals of managerial accounting, cost accounting concept, and managerial accounting approaches will provide you with the concepts, procedures, and analytical skills you'll need to make informed decisions in today's complex business environment.

Target Audience
 This course is targeted specifically for business managers, financial professionals, and other internal decision makers of an organization who have the need to understand managerial accounting.

Expected Duration
5.0 hours

Lesson Objectives:

Fundamentals of Managerial Accounting

  • recognize the benefits of understanding the fundamentals of managerial accounting.
  • match examples of planning and control activities to their respective categories.
  • identify the fundamentals to consider when deciding on the best accounting information system for an organization.
  • determine the most effective accounting information system to meet a company's needs in a given scenario.

    • Cost Accounting Concept

  • recognize the benefit of understanding the concept of cost accounting.
  • match examples of costs to their appropriate behavior classifications.
  • match the classifications of traceable cost objects to examples.
  • classify given costs by traceability in a scenario.
  • identify examples of types of costs that relate to relevance.
  • make a decision in a given scenario based on differential net revenue.
  • match examples of specified costs according to their function.

    • Managerial Accounting Approaches

  • recognize the benefits of understanding managerial accounting approaches.
  • identify examples of the phases of the plan-do-check-act cycle for total quality management.
  • apply the plan-do-check-act cycle for total quality management to solve a problem in a given scenario.
  • identify examples of the elements of a just-in-time management system.
  • apply the four elements to implement a just-in-time management system in a given scenario.
  • identify examples of the steps associated with implementing the theory of constraints.
  • apply the theory of constraints to a given problem.

    • Course Number: FIN0241